TSX-V: LER
PRESS RELEASE
25 April, 2008
Lero Gold Corp. (�Lero� or
the �Company�)
NI 43-101 Compliant Mineral Resource for Taldybulak-Talas Copper-Gold Project, Kyrgyzstan
______________________________________________________________________________________
Lero Gold Corp. (�Lero�, or
the �Company�) (TSX-V:LER) is pleased to announce a National Instrument 43-101
compliant resource estimate for the Taldybulak-Talas
copper-gold porphyry deposit, northwest Kyrgyzstan.
The resource estimate has been calculated at various gold cut-off grades and
incorporates all drilling data obtained for the Taldybulak-Talas
copper-gold project from the 2007-2008 drilling programmes completed in Q1
2008. At a 0.30g/t gold cut-off, the Indicated resource is 79Mt @
0.63g/t Au and 0.17% Cu with the Inferred resources totalling
163Mt @ 0.58g/t Au and 0.14% Cu.
Table 1; Taldybulak-Talas Copper-Gold Project,
Mineral Resource Estimate (Lero - April 2008)
Note: Au_eq=Au g/t + 2.5x Cu %
Metal equivalent: metallurgical recoveries and net smelter returns are assumed
to be 100%
The resource is based on 20 historical Soviet holes (5,078m) and 34 diamond
holes (8,484m) drilled by Lero from 2005 through to
2008; a total of 9,534m of surface trenching data was also included in the
modelling and interpolation. The mineralisation is
located within an east-west trending linear porphyry, with a surface exposure
of 1,000m x 400m. The above resource is calculated down to a depth of 500m
below surface and is fully supported by drilling; no extrapolation of the
resource below the base of the current drilling information was undertaken. The
mineralisation remains open to the west and at depth,
where an interpreted high-grade core (0.7-0.9g/t Au) was intersected during the
2007 drilling programme.
The resources were calculated within a constrained geological wireframe, limited by external pyrite halo defined by an
induced polarization survey and verified by drilling. Post-mineral dykes were
modelled and excluded from the reported volume and interpolation run. Results
from systematic variography analysis formed the basis
for assigning resource categories with Indicated mineralisation
being assigned to all material falling within an isotropic search ellipse with
a maximum range of 100m and Inferred mineralisation
being assigned within a 200m range. Log Normal Kriging
was the selected algorithm utilised for the interpolation of grade.
CEO of Lero, Dr Alexander Yakubchuk
commented:
�We are very pleased to receive this encouraging result for the Taldybulak-Talas project, it shows that the portion of the
system explored to date contains an Indicated resource of up to 1.6Moz of gold
and 300Mlb of copper. This metal content makes the project comparable to its
international peers in South America and Australia. Our work during the
forthcoming field season will be focussed on converting the Taldybulak-Talas
Inferred resource to higher categories and testing additional potential in the
adjacent licence areas. These results set a new hurdle for the next stage of
exploration within the Talas valley, the aim moving
forward is to delineate other porphyry systems within the same belt and fully
evaluate the potential of Taldybulak�.
Chairman of Lero, Dr Sergey V. Kurzin
commented:
�Results of this resource calculation demonstrate that Lero�s
Taldybulak-Talas deposit is fast becoming the second
largest gold resource in Kyrgyzstan
after Kumtor. With the recently announced resource
estimate for our Karchiga VMS project in Kazakhstan and now for Taldybulak-Talas�
in Kyrgyzstan,
Lero is building a solid base for significant future
growth and development.�
ENDS
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Notes to Editors:
1. Lero Gold Corporation (TSX-V: LER) is a base and
precious metal exploration company led by a senior management team with
extensive expertise in mineral exploration and advanced project management. In
July, 2006 Oriel Resources Plc completed its
previously announced transfer and sale of its gold related assets into Lero Gold Corporation (�Lero�)
(formerly ELE Capital Corporation � �ELE�). Lero
resumed trading on TSX Venture Exchange (TSX-V) on Thursday July 27, 2006 under
the trading symbol �LER�. Lero Gold is currently
seeking and evaluating advanced exploration stage gold and base metal projects
in Kazakhstan and Kyrgyzstan. The
Company is currently exploring advanced staged gold deposits in the Tien Shan gold belt in the Kyrgyz
Republic and Rudny
Altai belt in the Republic
of Kazakhstan.
2. Information Concerning Estimates of Measured, Indicated and Inferred
Resources.
This market announcement also uses the terms 'indicated resources' and
'inferred resources'. Lero Gold Corp. advises
investors that although these terms are recognised and required by Canadian
regulations (under National Instrument 43-101 Standards of Disclosure for
Mineral Projects), the U.S.
Securities and Exchange Commission does not recognise them. Investors are
cautioned not to assume that any part or all of the mineral deposits in these
categories will ever be converted into reserves. In addition, 'inferred
resources' have a great amount of uncertainty as to their existence, and
economic and legal feasibility. It cannot be assumed that all or any part of an
Inferred Mineral Resource will ever be upgraded to a higher category. Under
Canadian rules, estimates of Inferred Mineral Resources may not form the basis
of feasibility or pre-feasibility studies, or economic studies except for
Preliminary Assessment as defined under 43-101. Investors are cautioned not to
assume that part or all of an inferred resource exists, or is economically or
legally mineable.
3. Resource estimations were carried out by Julian Woodcock and reviewed by
Matthew Boyes (Senior Geologist and a Qualified
Person under National Instrument 43-101). Assays are conducted at the
internationally certified Alex Stewart Lab in Bishkek, Kyrgyzstan.
Lero Gold Corporation operates a stringent QA/QC
policy that includes external certified standard samples and blanks in each
individual batch sent for analysis. Wardell Armstrong
International is currently reviewing methodology and interpolation parameters
used in the block model.
4. For avoidance of confusion;
a. The Taldybulak-Talas copper gold porphyry is a
separate deposit from the Taldybulak Levoberezhny gold deposit previously owned by Central Asia
Gold Limited, and
b. The Talas Copper Gold Limited Liability Company,
the holder of the Lero owned Taldybulak
licence, is a separate company from Talas Gold Mining
Company which owned the Jerooy Gold project.
5. In November 2006, Lero granted Gold Fields
Exploration B.V. an option to enter into a joint venture agreement with the
Company under which Gold Fields Exploration B.V. has the right to;
a. earn up to a 60% interest in exploration licences on the Kentash,
Taldybulak and Korgontash
tenements in the Talas Region by funding exploration
expenditures of up to CAD$10 million, and
b. increase its interest in the project by a further 10% (to a total of 70%) by
funding the expenditure of up to a further CAD$10 million on a feasibility
study. Thereafter, Gold Fields Exploration B.V. and Lero
will contribute to the project requirements on a pro-rata basis through to
development, if appropriate.
6. Gold Fields Exploration B.V. is an indirect wholly owned subsidiary of Gold
Fields Limited.
7. The TSX Venture Exchange does not accept responsibility for adequacy or
accuracy of this release.
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For further information please contact:
Alexander Yakubchuk, CEO, Lero
Gold Corporation
Tel: +44 (0) 20 7514 0590
Gavin Dallas, Marketing and PR, Lero Gold Corporation
Tel: +44 (0) 20 7514 0590
Keith Schaefer, Vanguard Shareholder Solutions
Tel: + 1 604 608 0824
Michael Padley / Michael Spriggs,
Bankside Consultants
Tel: +44 (0) 20 7367 8888
www.lerogold.com
Lero Gold
Vanguard Shareholder Solutions
Vanguard Shareholder Solutions (Vanguard) provides, for remuneration,
corporate communications and investor relations services to the above mentioned
client(s). The information contained in this email is based on existing
disclosure documents or other publicly available information. You are
encouraged to seek independent verification of any information that is
important to your decisions. By responding to your inquiry neither Vanguard nor
the above mentioned client(s) is offering securities or advising or soliciting
the purchase or sale of securities.
